Indian markets are likely to open positive tracking global indices and SGX Nifty.

The US stocks saw considerable volatility early in the session on Tuesday but moved sharply higher over the course of the trading day. With the rally on the day the major averages partly offset the selloff seen in the previous session. The Dow surged by 5.2 per cent to 21237 and the Nasdaq also rose by 6.2 per cent to 7335.

UK stocks gave up early gains to turn lower on Tuesday as the coronavirus continued its relentless march across the globe. The government is expected to ramp up its measures to halt the spread of the virus after the Budgets £30bn offer fell below expectations. The benchmark FTSE 100 fell by 1.9 percent to 5052.

On domestic front Indian shares fell sharply on Tuesday amid worries that the coronavirus pandemic will tip the global economy into recession. The benchmark BSE Sensex fell by 2.6 percent to 30579.

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